Reliable transportation is important when moving overseas to the United States, where 45% of people have no access to public transportation. Learn how to buy a car in the U.S. with no local credit history.
When it comes to transportation, studies show prior to relocating, Expats rank car buying at the bottom of the list. After moving to the USA, transportation quickly jumps to the top. A car is a necessity, as 45% of the U.S. population does not have access to public transportation and for those who do it may not be convenient.
The freedom of having your own car takes pressure off of everyday life. Simple chores such as taking your kids to school, going to the bank and grocery shopping become manageable. Foreign Nationals who moved to the U.S. have found that purchasing or leasing a reliable car can be difficult due to a lack of credit history.
In the United States, approximately 90% of lenders, such as banks and dealerships use credit history to determine the potential risk of lending money to consumers. Without a local credit history it can be near impossible to purchase a new vehicle from a local dealership without paying high interest rates, or depleting your savings paying cash out of pocket.
Finding a reliable Expat car leasing and financing company is crucial to obtaining a vehicle at a fair price. Expat car leasing and financing programs allow Foreign Nationals to lease or finance a vehicle at competitive rates. Financing or leasing a vehicle through a company that understands the needs of Foreign Nationals is extremely valuable in the United States and will help to build your local credit history. This allows you to start your new journey in the U.S. having the peace of mind that you and your family have a safe means of transportation.
Quick Facts:
- Expats often overlook the necessity of buying a car until AFTER they arrive in the United States.
- 45% of the U.S. population does not have access to public transportation.
- A lack of local credit history makes it difficult for Expats to get competitive rates at local dealerships.
- Many Expats buy a used car for cash, missing the important opportunity to establish a credit history.
- Finding a reliable Expat car company is essential to getting a vehicle at a fair price.
